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Seeking Alpha 2023-02-06 18:33:03

Binance to temporarily halt US dollar bank transfers

Binance ( BNB-USD ) ( BUSD-USD ), the world's largest cryptocurrency exchange by trading volume, has suspended U.S. dollar bank transfers temporarily, starting February 8. Affected customers are being notified directly, a Binance spokesperson told Seeking Alpha. "It's worth noting that only 0.01% of our monthly active users leverage USD bank transfers, but we are working hard to restart service as soon as possible," the spokesperson clarified. All other modes of trading crypto remain unaffected in the interim, including bank transfers using other fiat currencies supported by Binance. Earlier, Binance picked up a stake in South Korean peer GOPAX, which was forced to halt withdrawals in its GoFi yield product given its exposure to bankrupt Genesis .

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